Proshares Ultrapro Sp500 Etf Market Value
| UPRO Etf | USD 85.52 2.18 2.62% |
| Symbol | ProShares |
The market value of ProShares UltraPro SP500 is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares UltraPro's value that differs from its market value or its book value, called intrinsic value, which is ProShares UltraPro's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares UltraPro's market value can be influenced by many factors that don't directly affect ProShares UltraPro's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares UltraPro's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares UltraPro is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares UltraPro's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
ProShares UltraPro 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to ProShares UltraPro's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of ProShares UltraPro.
| 09/06/2024 |
| 10/06/2024 |
If you would invest 0.00 in ProShares UltraPro on September 6, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares UltraPro SP500 or generate 0.0% return on investment in ProShares UltraPro over 30 days. ProShares UltraPro is related to or competes with ProShares UltraPro, ProShares UltraPro, ProShares UltraPro, Direxion Daily, and ProShares UltraPro. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns ... More
ProShares UltraPro Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure ProShares UltraPro's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess ProShares UltraPro SP500 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.42 | |||
| Information Ratio | 0.0123 | |||
| Maximum Drawdown | 13.49 | |||
| Value At Risk | (5.65) | |||
| Potential Upside | 4.9 |
ProShares UltraPro Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares UltraPro's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares UltraPro's standard deviation. In reality, there are many statistical measures that can use ProShares UltraPro historical prices to predict the future ProShares UltraPro's volatility.| Risk Adjusted Performance | 0.0493 | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.24) | |||
| Sortino Ratio | 0.0106 | |||
| Treynor Ratio | 0.0466 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares UltraPro's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
ProShares UltraPro SP500 Backtested Returns
As of now, ProShares Etf is very steady. ProShares UltraPro SP500 maintains Sharpe Ratio (i.e., Efficiency) of 0.0419, which implies the entity had a 0.0419% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ProShares UltraPro SP500, which you can use to evaluate the volatility of the etf. Please check ProShares UltraPro's Coefficient Of Variation of 1931.13, risk adjusted performance of 0.0493, and Semi Deviation of 3.1 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. The etf holds a Beta of 3.06, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, ProShares UltraPro will likely underperform.
Auto-correlation | 0.12 |
Insignificant predictability
ProShares UltraPro SP500 has insignificant predictability. Overlapping area represents the amount of predictability between ProShares UltraPro time series from 6th of September 2024 to 21st of September 2024 and 21st of September 2024 to 6th of October 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of ProShares UltraPro SP500 price movement. The serial correlation of 0.12 indicates that less than 12.0% of current ProShares UltraPro price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.73 |
ProShares UltraPro SP500 lagged returns against current returns
Autocorrelation, which is ProShares UltraPro etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting ProShares UltraPro's etf expected returns. We can calculate the autocorrelation of ProShares UltraPro returns to help us make a trade decision. For example, suppose you find that ProShares UltraPro has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
ProShares UltraPro regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If ProShares UltraPro etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares UltraPro etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares UltraPro etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares UltraPro Lagged Returns
When evaluating ProShares UltraPro's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares UltraPro etf have on its future price. ProShares UltraPro autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, ProShares UltraPro autocorrelation shows the relationship between ProShares UltraPro etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares UltraPro SP500.
Regressed Prices |
| Timeline |
Pair Trading with ProShares UltraPro
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ProShares UltraPro position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ProShares UltraPro will appreciate offsetting losses from the drop in the long position's value.Moving together with ProShares Etf
| 1.0 | SSO | ProShares Ultra SP500 | PairCorr |
| 1.0 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.85 | QLD | ProShares Ultra QQQ | PairCorr |
The ability to find closely correlated positions to ProShares UltraPro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares UltraPro when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares UltraPro - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares UltraPro SP500 to buy it.
The correlation of ProShares UltraPro is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraPro SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for ProShares UltraPro can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Information and Resources on Investing in ProShares Etf
When determining whether ProShares UltraPro SP500 offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ProShares UltraPro's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Proshares Ultrapro Sp500 Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Proshares Ultrapro Sp500 Etf:Check out ProShares UltraPro Correlation, ProShares UltraPro Volatility and ProShares UltraPro Alpha and Beta module to complement your research on ProShares UltraPro. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
ProShares UltraPro technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.